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Electronic energy platform IntercontinentalExchange is buying ChemConnectâs commodity trading business for an undisclosed sum, in its second exchange acquisition this year.

ChemConnect is a leading electronic marketplace for the US natural gas liquids and chemicals markets. Based in Houston, Texas, it has offices in Antwerp, Belgium, London and Hong Kong. Its users include 9,000 companies from 150 countries.

According to ICE, the merger will create a single platform for ChemConnect’s and ICE’s energy products.

Charles Vice, ICE president and chief operating officer, said: “The acquisition of the leading electronic physical natural gas liquids and chemicals trading platform is an excellent fit with our leadership in the US physical gas and power markets, as well as our upcoming launch of the Platts Window on ICE for the global physical oil markets."

The deal is expected to be closed in the third quarter of this year.

In January ICE acquired New York Board of Trade for $1bn (€741m). It has since made 60 redundancies across several departments including technology, marketing and floor operations.

ICE trading has boomed in the months following the merger. It revealed a surge in activity for May with a 60% increase in trading volumes across its futures contracts to 11.8 million compared with the same month last year.

Yet the exchange's bid of $10.9bn for Chicago Board of Trade has not gone as smoothly. Last week ICE said it would take its message directly to CBOT shareholders to win them over as part of an effort to derail Chicago Mercantile Exchange’s agreement to buy the exchange for $8.9bn. CBOT shareholders are scheduled to vote on CME's bid on July 9.